Project completion marks entry into commercial phase of Corporation's development
QUEBEC CITY, Nov. 10, 2015 /CNW/ - CO2 Solutions Inc. (TSX-V: CST) (CO2 Solutions or the Corporation), a leader in the field of enzyme-enabled carbon capture technology, today announced the completion of its demonstration project at Salaberry-de-Valleyfield ("Valleyfield"), near Montreal, Québec.
Further to the Corporation's press release dated September 2, 2015, the demonstration in Valleyfield has been completed following a total of more than 2,500 of operational hours logged by the unit since carbon dioxide ("CO2") capture commenced on June 19, 2015, using the Corporation's proprietary enzyme, 1T1.
The demonstration unit performed in line with previously communicated claims and expectations, confirming the strong potential of the Corporation's technology for low-cost and environmentally friendly capture of CO2 from major emitters. The data and results from the project will form a critical input into the engineering and costing of CO2 capture units for commercial use.
Highlights of the project are:
- Over 2,500 hours of operation using the Corporation's proprietary enzyme, 1T1, with CO2 capture consistently at design capacity;
- The largest and longest ever enzyme-based demo project built and operated under realistic conditions;
- The use of hot water rather than steam as an energy source for solvent regeneration (conventional amine-based capture technologies require high temperature, higher cost steam), confirming the technology's low-grade energy use characteristics, a key element in achieving low capture costs;
- No catalytic performance degradation of the enzyme was observed throughout the project, including with the use of varying solvent formulations;
- Excellent robustness of the process under stress testing, which included induced events such as power failures and cold start-ups;
- Purity of the CO2 produced meets the most stringent industry requirements for sectors such as food and beverage, with no or only minor additional processing or purification required;
- The projects configuration proved effective, with a downstream setting relative to the boiler, thereby mimicking conditions the technology would encounter in typical industrial settings;
- The Corporation's enzyme-accelerated carbonate solvent produced consistent performance at the required levels for commercial operation; no solvent make-up was required and environmentally friendly operation was achieved throughout the operation with no harmful wastes produced;
- Minimal operator requirements based on autonomous overnight operation following the start-up period.
The full results from the project are currently being independently validated and analyzed by a leading international third party engineering firm. The results, expected to be released before year end, will allow for the completion of detailed engineering and costing models for commercial units at various scales.
"With the successful completion of our project, we have clearly demonstrated that our technology has matured so that units can run almost fully autonomously and with very limited oversight, knowing that the technology delivers on the high expectations in terms of capture efficiency and robustness," stated Evan Price, President & CEO of CO2 Solutions. "The completion of the Valleyfield operation is a key milestone for the Company as it represents the substantial completion of our technology development activities, allowing us to enter into the commercial phase of our development. Throughout the project, we have welcomed various industrial and governmental parties at the Valleyfield site, and are now actively pursuing the conversion of commercial and partnership opportunities that have arisen from these meetings."
A video highlighting CO2 Solutions' demonstration unit is available at https://youtu.be/OjS-36N8HgM.
About CO2 Solutions Inc.
CO2 Solutions is an innovator in the field of enzyme-enabled carbon capture and has been actively working to develop and commercialize the technology for stationary sources of carbon pollution. CO2 Solutions' technology lowers the cost barrier to Carbon Capture, Sequestration and Utilization (CCSU), positioning it as a viable CO2 mitigation tool, as well as enabling industry to derive profitable new products from these emissions. CO2 Solutions has built an extensive patent portfolio covering the use of carbonic anhydrase, or analogues thereof, for the efficient post-combustion capture of carbon dioxide with low‐energy aqueous solvents. Further information can be found at www.co2solutions.com.
CO2 Solutions Forward-looking Statements
Certain statements in this news release may be forward-looking. These statements relate to future events or CO2 Solutions' future economic performance and reflect the current assumptions and expectations of management. Certain unknown factors may affect the events, economic performance and results of operation described herein. CO2 Solutions undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE CO2 Solutions Inc.
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